Gold and silver price trends spiked higher on Wednesday. Gold price trends
pushed higher by approximately 2 percent and silver price trends pushed higher
by approximately 3 percent. Gold and silver price trend-line movement sloped
positively along with other metal commodity prices. Metal prices moved higher
across the board in response to the news posting via central banks. The Federal
Reserve, along with a group of other primary central banks across the globe,
posted news that they would unify efforts to boost the global economy. Stock
indices spiked higher after presentation of this news and precious metal price
trend-lines followed. The Feds, along with the other central banks, announced a
collaborated effort to lower interest rates on dollar liquidity swaps. This
action would make it cheaper for banks around the world to trade in U.S.
dollars. Conditions were obviously poor to promote such action and the safe
haven appeal of gold drew strength. Gold and silver dropped back, along with the
blue chips, last session. As last session close finalized, gold contract for
December delivery was red by .60 percent at 1739.80 per troy ounce. Silver
contract for December delivery was red by .14 percent at 32.76 per troy ounce.
Spot gold and spot silver prices continued to move negatively after last session
close. Spot gold price per gram was lower by .16 at 55.96 and spot silver price
per ounce was lower by .04 at 32.69. Camillo Zucari
No comments:
Post a Comment